Everybody knows I love breaking out photos of my hero Lawrence Yun whenever I get the opportunity (the most recent example being in February), but seriously, just check out these NAR pricing stats:

2008-AVG = $198,100
2009-AVG = $172,500
2010-AVG = $172,900
2011-AVG = $166,100
2012-AVG = $176,800
June 2013 = $214,200 (preliminary numbers)

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Posted by Ace Midnight

Between sanity and madness

Member since Dec 2006

89775 posts

Posted on 8/9/13 at 1:32 pm to Doc Fenton

quote:
2008-AVG = $198,100
2009-AVG = $172,500
2010-AVG = $172,900
2011-AVG = $166,100
2012-AVG = $176,800
June 2013 = $214,200 (preliminary numbers)

Okay - a little alarming, but I'm curious to know why (because it's not inflation and it's not rising owner/occupancy rates) - part of it is sustained low interest rates, but that spike from last year to this (assuming it holds) is a "tap the brakes" moment, at the very least.

18%? That's a definite bump, if not a bubble.

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Posted by Doc Fenton

New York, NY

Member since Feb 2007

52698 posts

Posted on 8/21/13 at 9:33 am to Doc Fenton

The Great One has spoken again this morning...

It turns out that the preliminary numbers for June reported last month were actually legit.

Additionally, high prices were maintained into July, even as sales volume seems to have spiked.

I sure hope all those cash investors figure out what they're gonna do with all those purchased homes. It looks awfully bubbly out there.

NAR Existing Home Data
(Date = Price, Annualized Volume in Millions, Estimated Inventory)
2008-AVG = $198,100, 4.11, 10.4
2009-AVG = $172,500, 4.34, 8.8
2010-AVG = $172,900, 4.19, 9.4
2011-AVG = $166,100, 4.26, 8.3
2012-AVG = $176,800, 4.66, 5.9
June 2013 = $214,200, 5.08, 5.2 (preliminary numbers)
June 2013 = $214,000, 5.06, 5.1 (revised)
July 2013 = $213,500, 5.39, 5.1 (preliminary numbers)

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